OCBC released 3rd quarter earnings this morning, with net profits up 62% year over year, excluding one time gains, core net profits was up 11%, still pretty decent growth I must say. I do expect our local banks to grow earnings organically at a 5-10% clip for the years to come. Net interest margins improved from 1.63% to 1.69%, this is the spread in which they borrow and lend $$. Since the FEDs have ended QE(bond buying), long term interest rates would slowly move up, as a result banks would be able to lend out at a higher rate (think of 30 year housing loans and 10 year car loans), while short term interest rates (borrowing cost) would likely to remain low (say 1% to 1.5% for fixed deposits). Overall I definitely see net interest margins moving upwards, probably towards a more normal level of 2%, this ......